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Bandhan Bank Ltd. ( (IN:BANDHANBNK) ) has provided an update.
Bandhan Bank Limited has received a Demand Order from the Assistant Commissioner of CGST & C.EX, Division-IX, Mumbai, under Section 74 of the CGST Act, 2017. The order alleges that the bank availed excess or ineligible Input Tax Credit and failed to pay GST on cheque return charges for several financial years. The financial impact of the order is quantified at Rs. 2,17,61,705, but the bank states that there is no material impact on its financials or operations. Bandhan Bank is currently evaluating the case to consider potential legal remedies, including an appeal.
More about Bandhan Bank Ltd.
Bandhan Bank Limited operates in the financial services industry, primarily offering banking services. The bank focuses on providing a range of financial products and services to its customers, including loans, savings accounts, and other banking solutions.
Average Trading Volume: 246,592
Technical Sentiment Signal: Sell
Current Market Cap: 263.3B INR
See more insights into BANDHANBNK stock on TipRanks’ Stock Analysis page.